About the Cheshire FAQs

What is Mutuality?

The principle of mutuality was behind the establishment of collective associations in the eighteenth and nineteenth centuries. Through these associations people came together to do business with each other. The underlying ethic was a moral one; the association's aims were not about the pursuit of profit.

Does anyone else benefit?

The philosophy of mutuality is expressed in the culture of The Cheshire and in the way in which it carries out its business.

The Cheshire’s strategy for profit optimisation means that it identifies the level of profit it needs in order to continue to successfully develop the business. Any additional profit is given back to customers in the form of Member Benefits.

However, the fact that the Cheshire does not strive to maximise profit is not an excuse to be inefficient. Mutuality means that the Cheshire constantly strives to improve its efficiency and effectiveness.

The Cheshire has an active Community Support Programme that supports many charitable causes in the North West of England. As a regional society one of the Cheshire’s strengths is its identity with the local area. This is an important part of mutuality and one which Cheshire Building Society tries to deliver though the successful Community Support Programme.

For how long have you been mutual?

The forerunner of Cheshire Building Society, the Cheshire Permanent Benefit Building Society, was founded as a mutual organisation in the thriving, silk manufacturing centre of Macclesfield in 1870.

How long are you planning to be mutual?

For over 130 years Cheshire Building Society has provided services that have been mutually beneficial for all its members. The Cheshire firmly believes that mutuality is in the best interests of its members and has no intention of changing that position.